Creative Planning Buys New Stake in Veracyte, Inc. (NASDAQ:VCYT)

Creative Planning bought a new stake in Veracyte, Inc. (NASDAQ:VCYT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,642 shares of the biotechnology company’s stock, valued at approximately $396,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Veracyte by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after buying an additional 266,660 shares during the last quarter. Bamco Inc. NY boosted its position in Veracyte by 46.3% during the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock worth $24,726,000 after purchasing an additional 353,000 shares during the period. Sei Investments Co. boosted its position in Veracyte by 21.2% in the 1st quarter. Sei Investments Co. now owns 142,604 shares of the biotechnology company’s stock valued at $3,160,000 after buying an additional 24,945 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Veracyte by 9.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,325 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 778 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Veracyte by 21.8% in the 2nd quarter. Victory Capital Management Inc. now owns 87,555 shares of the biotechnology company’s stock valued at $1,897,000 after buying an additional 15,647 shares during the last quarter.

Insider Buying and Selling

In other Veracyte news, Director Evan/ Fa Jones sold 20,457 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total value of $658,715.40. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Veracyte news, Director Evan/ Fa Jones sold 20,457 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.20, for a total value of $658,715.40. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,105,844.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,109 shares of company stock worth $1,004,125 over the last quarter. 1.30% of the stock is owned by company insiders.

Veracyte Stock Up 2.0 %

VCYT opened at $37.34 on Friday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -49.79 and a beta of 1.67. Veracyte, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $41.43. The company’s 50-day moving average price is $33.17 and its 200 day moving average price is $26.86.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.17. The firm had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. Veracyte’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Research analysts anticipate that Veracyte, Inc. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on VCYT. UBS Group upped their price objective on shares of Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Leerink Partners upped their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Needham & Company LLC upped their price objective on shares of Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Guggenheim began coverage on shares of Veracyte in a research report on Thursday, October 10th. They issued a “buy” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.